Nifty one more breakout... Journey towards new horizons..

Nifty one more breakout... Journey towards new horizons..

As charts shows, nifty continues to move in upwards direction since last more than one and half year. The dream run seems to be continued for some more time.

Today Nifty Closed 8430.75 after achieving high of 8438.1 in intraday. In the morning session, it was gone down first and hit low of 8349.1. So it was a 90 points movement from low to high in intraday.

But, significance was the closing of today's activity. Nifty created a strong 52 points green candle. The candle has created a clear breakout on the chart. Otherwise it was showing consolidation on the daily chart since 3rd November, 2014.

Today Nifty closed at 8430.75. First time in the history of NSE, Nifty has crossed 8400 mark on closing basis. This closing candle has shown clear breakout of this consolidation range. The range was between 8324 and 8405, but it never closed above 8400. This historical close has indicated the clear up trend for next few days of trading session.

Nifty has set a fresh target of 9000 and will achieved in very short period. The period required may be some where between 30 to 45 days. The markets are all set to go bullish for next few sessions.